Cracker Barrel: Marketing, menu moves drove 2Q sales

Biglari proxy battle continues into 2013

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During the second quarter of 2012, Cracker Barrel also reported $1.2 million in costs related to a proxy battle with activist investor Sardar Biglari. During the second quarter of 2012, the company spent more than $3 million on the proxy fight, Hyatt said.
On February 15, Cracker Barrel announced that Biglari had rejected the company’s offer to buy back his shares at market price. Cracker Barrel shareholders had rejected two of Biglari’s bids for ...

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